LCs under scanner to check money laundering: Tipu Munshi

Commerce minister Tipu Munshi remarked on Sunday that his ministry will soon form a committee to strengthen monitoring and vigilance to check soaring prices of essential commodities, reports UNB.

Bangladesh Bank will also form a crisis management committee to monitor the market and supervise the import of goods, the minister added.

He made the comments while talking to reporters after meeting with the representatives of chamber and trade bodies at the secretariat.

Tipu Munshi said both committees will monitor the stock, supply and import of some basic commodities so that consumers can buy them at an affordable price during upcoming Ramadan.

Replying to a query the commerce minister said that the government won’t hold the LCs that quotes the real price of imported items.

The commerce ministry, the central bank and National Board of Revenue (NBR) are working jointly to check money laundering through manipulation of the export income and import costs, Tipu Munshi continued.